Will the Bitcoin bulls fight back soon, or will the bears continue to control? BTC market analysis and operation suggestions on August 3
1. BTC daily line analysis
From the daily chart, Bitcoin has been on a continuous downward trend recently, and the price has fallen below the key support level. The MA moving average system shows a short position arrangement, MA5 and MA10 diverge downward, and the MACD indicator shows a dead cross and continues to diverge downward, indicating that the market is still in a weak state in the short term. At present, the price has fallen to the vicinity of the lower track of the Bollinger Band, and the trading volume has gradually increased, which suggests that the market may have a short-term rebound or technical correction.
Operational suggestions: As the overall market trend is still bearish, short-term investors may consider lightly positioning long orders at the 62,000 level, but they need to strictly set stop losses; as for medium and long-term investors, they can patiently wait for clearer bottom signals to appear before entering the market.
2. BTC four-hour line analysis
On the four-hour chart, the price of Bitcoin rebounded to the vicinity of the MA30 moving average and then fell back after encountering resistance, and all moving averages are still in a short position. The MACD indicator began to converge below the zero axis, and the green column shortened, indicating that the short-selling force has weakened, but the price is still difficult to break through the upper resistance area in the short term. What needs to be paid attention to now is whether the price will form effective support in the range of 60,800-61,200. If it falls below this range, there is a risk of further decline.
Operation suggestion: Short-term traders are advised to pay attention to the four-hour MACD golden cross signal. If it appears, they can consider short-term follow-up long orders, but they need to stop profit and exit in time in the 62000-62500 range. Cautious investors can continue to wait and see and wait for clearer signals.
3. BTC one-hour line analysis
From the one-hour chart, the price of Bitcoin rebounded to 61,500 and then fell back, forming a short-term pressure level. The MA moving average system shows that there is a rebound demand in the short term, but the upper pressure is still large. Although the MACD indicator shows signs of a bottom golden cross, the momentum is not strong, reflecting the strong wait-and-see sentiment in the market.
Operation suggestion: In short-term operation, you can pay attention to the support near 60800. If the price falls back again and does not break, you can try short-term long orders, but pay attention to the flexibility of short-term operations and stop loss settings. The overall suggestion is to control positions, avoid chasing highs, and pay attention to market trends.
Summarize:
Today, the overall trend of Bitcoin is weak, but the possibility of a rebound cannot be ruled out under the technical oversold situation. It is advisable to be cautious in operation and wait patiently for the market to further clarify the direction. During the operation, it is necessary to maintain flexibility and pay attention to market changes at any time to make corresponding adjustments.
